USA Truck Inc. (NASDAQ: USAK) rival Celadon Group said that it is interested in acquiring the company. Celadon disclosed that it bought USA Truck shares, taking its stake in the company to 6.29%.
In a filing, Celadon said that it believes the truckload industry offers consolidation and other strategic opportunities as successful companies seek additional capacity and services for customers, more diverse routes for drivers, and greater value and liquidity for investors.
USA Truck shares ended yesterday’s session 19% higher at $9.76, nudging less than 1% higher this morning.
US Airways Group Inc. (NYSE: LCC) shares surged more than 8% to $6.35 this morning, leading airline stocks higher.
Last week, US Airways reported its September traffic results. The airline reported a 1% decline in consolidated September traffic as it continued to cut capacity. US Airways reported a 2.8% decline on consolidated capacity to 6.07 billion available seat miles. The airline’s consolidated load factor climbed to 83.3% in September.
Genco Shipping & Trading Limited (NYSE: GNK) shares are continuing yesterday’s 8% hike, surging nearly 2% to $8.56 this morning.
In the last month, Genco shares gained 7.82%. Year-to-date, the stock is down 41.56%.
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